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BOROSIL LIMITED (BOROLTD)

Producer Manufacturing · Miscellaneous Manufacturing · figures to Nov '26

Divergence: price ahead of business (2 months)
Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.62 / 100
Profitability 51Growth 58Balance sheet 76
Momentum scoreHow strong the recent trend is: 3-month price change, 12-month improvement in earnings and the rise in FII + DII holding, among companies above ₹500 cr.61 / 100
Price 95Earnings 32FII/DII 57

Passes these screensPrice ahead of business

Compare withSUPREME INDUSTRIESASTRALGARDEN REACH SHIPBUILD ENG

Share price

Closing priceAdjusted for splits and bonus issues.

₹309.3 latest close · +26.1% over the last 90 sessions

₹250₹300Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹250₹300Jul 3Sep 4Nov 9

₹309.3 month-end · −4.2% over 12 months

₹250₹300Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹250₹300Nov '25May '26Nov '26

₹309.3 month-end · +36.9% over 3 years

₹200₹300₹400Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹200₹300₹400Nov '23May '25Nov '26

₹309.3 month-end · +300.4% since Jul '20

₹200₹400Jul '20Oct '21Jan '23May '24Aug '25Nov '26 ₹200₹400Jul '20Sep '23Nov '26

52-week range ₹213.73 to ₹363.40 · 1-year volatility 44.8%

Was the rally earned?

-4%share price, 1 yearRoughly flat
  • The share price was roughly flat over 1 year (-4%).
  • The share count barely moved.
Net profit growth: −14 pts. Points of the price return explained by net profit growing (or shrinking).−14 ptsNet profit growthP/E change: +12 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+12 ptsP/E changeShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2 ptsShare count changeShare price: −4%−4%Share priceNet profit growth: −14 pts. Points of the price return explained by net profit growing (or shrinking).−14ProfitP/E change: +12 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+12P/EShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2SharesShare price: −4%−4%Share price
Net profit growth-14 ptsNet profit fell about 13%, which lowers the price.
P/E change+12 ptsThe P/E rose from 46.9x to 52.8x, which lifts the price.
Share count change-2 ptsShare count was little changed. More shares would count against the price.
+37%share price, 3 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 30 points to the rise, while the multiple moved less (P/E 49.9x to 52.8x).
  • The share count rose 4%.
Net profit growth: +35 pts. Points of the price return explained by net profit growing (or shrinking).+35 ptsNet profit growthP/E change: +7 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+7 ptsP/E changeShare count change: −5 pts. Points of the price return explained by the share count changing. More shares count against the price.−5 ptsShare count changeShare price: +37%+37%Share priceNet profit growth: +35 pts. Points of the price return explained by net profit growing (or shrinking).+35ProfitP/E change: +7 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+7P/EShare count change: −5 pts. Points of the price return explained by the share count changing. More shares count against the price.−5SharesShare price: +37%+37%Share price
Net profit growth+35 ptsNet profit rose about 35%, which lifts the price.
P/E change+7 ptsThe P/E rose from 49.9x to 52.8x, which lifts the price.
Share count change-5 ptsShare count rose 4%, which lowers the price.
+99%share price, 5 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 67 points to the rise, while the multiple moved less (P/E 42.0x to 52.8x).
  • The share count rose 5%.
Net profit growth: +74 pts. Points of the price return explained by net profit growing (or shrinking).+74 ptsNet profit growthP/E change: +33 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+33 ptsP/E changeShare count change: −7 pts. Points of the price return explained by the share count changing. More shares count against the price.−7 ptsShare count changeShare price: +99%+99%Share priceNet profit growth: +74 pts. Points of the price return explained by net profit growing (or shrinking).+74ProfitP/E change: +33 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+33P/EShare count change: −7 pts. Points of the price return explained by the share count changing. More shares count against the price.−7SharesShare price: +99%+99%Share price
Net profit growth+74 ptsNet profit rose about 67%, which lifts the price.
P/E change+33 ptsThe P/E rose from 42.0x to 52.8x, which lifts the price.
Share count change-7 ptsShare count rose 5%, which lowers the price.
What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with SUPREME INDUSTRIES

How rough has the ride been?

Maximum drawdown-56.9%not yet recovered
1-year volatility44.8%annualised
Beta vs sector index0.843-year daily, correlation 0.33
Volume spikes14last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%202120222023202420252026−56.2% 0%−20%−40%−60%202120232025−56.2%
Largest drawdowns

-56.9% (2024-11 peak to 2026-03 low, not yet recovered)

-44.6% (2021-12 peak to 2022-06 low, recovered 2023-07)

-35.0% (2020-07 peak to 2020-10 low, recovered 2020-12)

Most recent volume spikes

2026-11-03: 6.1x the 50-day median, price -2.0% that day

2026-11-02: 50.7x the 50-day median, price +9.1% that day

2026-10-30: 93x the 50-day median, price +20.0% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

52.8xP/E todayWithin its usual range
Against its own history70th percentile
CheapestMedian 43.4xDearest

Usual range 25.7x to 69.9x since 2020-07.

Against Producer Manufacturing52.8x vs 29.6x
This company
52.8x
Sector median
29.6x

79% above the Producer Manufacturing median.

16.7x39.1x61.5x83.9xJul '20Nov '21Mar '23Jul '24Nov '25Nov '2616.7x39.1x61.5x83.9xJul '20Sep '22Nov '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median
How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Producer Manufacturing is valued

Where does it rank among Producer Manufacturing peers?

Each cell is the company's percentile rank among its Producer Manufacturing peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

  • ROCE32ndflat vs a year ago
  • Op. margin70th▼ 4 pts vs a year ago
  • Revenue growth38th▼ 23 pts vs a year ago
  • EPS growth24th▼ 39 pts vs a year ago
  • Debt/equity ↓58th▼ 8 pts vs a year ago
  • Cash cycle ↓16thflat vs a year ago
  • P/E ↓21st▼ 12 pts vs a year ago
  • 12M momentum52nd▲ 22 pts vs a year ago

Rank history

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26
Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Producer Manufacturing sector page Watch it move against Producer Manufacturing in the Observatory

What is the price implying?

~27%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 53.2x, a holder earning 12%/yr needs earnings to grow about 27.1%/yr for 10 years, then trade at 15x.

Delivered5.7%/yrEPS, last 7 fiscal years · 3-yr avg to 3-yr avg
Gap+21.4 ptsimplied minus delivered
Rank129thmost demanding of 856

Over time

Implied growth by month (solid) and delivered growth (dashed).

0%17%35% Jul 2020Nov 2026 0%17%35% Jul 2020Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x28.8%30.0%31.2%
15x26.0%27.1%28.3%
20x22.4%23.5%24.6%

Drag a slider to test other assumptions

Implied: 27.1%/yr

Looking back

  • Jan 2021Price implied 21%/yr; EPS has since grown 12%/yr (6.0 yrs)
  • Jan 2022Price implied 28%/yr; EPS has since grown 10%/yr (5.0 yrs)

Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.

What prices imply across Producer Manufacturing The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹309.30
P/E
52.8x
ROCE
11.0%
Market Cap
₹3704 cr
Revenue (TTM)
₹1225 cr
P/S
3.0x
P/B
4.2x
ROE
7.9%
Operating Margin
15.0%
Debt / Equity
0.2x
Promoter Holding
64.7%
12M Momentum
-4.2%

52-week range

₹213.73₹363.40
64% of the way from its 52-week low to its high

Price risk

1Y volatility
44.8%
Beta vs sector
1-year daily
0.80

Balance sheet & cash

Interest cover
operating profit ÷ interest
16.8x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.69x
Share count, 1Y
unchanged

Are profits backed by cash?

4 of 7checks within range1 beyond a threshold
Other income reliance16%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 16.0%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate27%Within range

Median quarterly effective tax rate over about 2.5 years: 27.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.69xNear threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.69x (cash from operations ₹148 cr, net profit ₹215 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow0 of 5 yrsBeyond threshold

Fiscal years with positive free cash flow in the last 5: 0. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-1 daysWithin range

Debtor days are below the median of the previous three fiscal years by 1 days (33 vs 34). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress20% of fixed assetsWithin range

Capital work-in-progress is 20% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-29 days / 2 yrsWithin range

Days payable changed by -29 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

  • Over 3 years, promoters trimmed 5.5 pts; DIIs added 4.9 pts.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters70.2%64.7%-5.5 pts
FIIs0.7%0.3%-0.4 pts
DIIs1.3%6.2%+4.9 pts
Public and others27.8%28.8%+1.0 pts

Number of shareholders

73,935shareholders-2% since Sep '23
74k78k82k86k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 75,355
Dec '23: 79,792
Mar '24: 81,120
Jun '24: 86,237
Sep '24: 82,410
Dec '24: 81,962
Mar '25: 75,923
Jun '25: 74,532
Sep '25: 74,290
Dec '25: 73,900
Mar '26: 74,127
Jun '26: 73,935
 74k78k82k86k Sep '23Sep '24Sep '25Jun '26
Sep '23: 75,355
Dec '23: 79,792
Mar '24: 81,120
Jun '24: 86,237
Sep '24: 82,410
Dec '24: 81,962
Mar '25: 75,923
Jun '25: 74,532
Sep '25: 74,290
Dec '25: 73,900
Mar '26: 74,127
Jun '26: 73,935

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−2.3%typical 12-month return vs the marketNot meaningfully different from the base rate
  • We found 50 past situations where a non-financial company looked like BOROSIL LIMITED today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
  • Over the following 12 months the middle half of them returned −17% to +17% vs the market, against −2% for all non-financial companies in the same months.
  • The gap against the base rate (0%, 80% range −8.3% to +2.9%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
THEMISMED · Jul 2024: −54.6% vs market
ORIENTCEM · Nov 2024: −53.2% vs market
VAIBHAVGBL · Aug 2023: −51.3% vs market
SHALBY · Aug 2021: −40.3% vs market
JTEKTINDIA · Jul 2024: −34.7% vs market
DOLLAR · May 2024: −33.9% vs market
THEJO · Mar 2024: −30.5% vs market
KINGFA · Feb 2020: −28.1% vs market
BORORENEW · Jan 2022: −25.0% vs market
SUBROS · Sep 2020: −21.7% vs market
HARSHA · Feb 2025: −20.8% vs market
GREENLAM · Jul 2023: −19.6% vs market
GRAPHITE · Sep 2023: −17.3% vs market
TTKHLTCARE · Apr 2020: −15.0% vs market
JUBLINGREA · Oct 2025: −14.5% vs market
ADFFOODS · Jun 2023: −11.8% vs market
RUPA · May 2021: −11.7% vs market
XPROINDIA · Mar 2025: −11.2% vs market
SUNDROP · Nov 2020: −9.5% vs market
SHK · Apr 2021: −9.3% vs market
BOROSCI · Jul 2025: −8.8% vs market
BAJAJELEC · Jul 2021: −8.6% vs market
SUPRAJIT · Feb 2021: −8.5% vs market
SILVERTUC · Mar 2024: −5.4% vs market
STARCEMENT · Jan 2025: −2.9% vs market
NAZARA · Nov 2024: −1.7% vs market
RADICO · Sep 2022: −0.7% vs market
NAVNETEDUL · Sep 2022: 0% vs market
JAMNAAUTO · Feb 2022: +0.3% vs market
ADOR · May 2020: +0.8% vs market
ORIENTHOT · Jul 2024: +6.0% vs market
THERMAX · Dec 2021: +6.2% vs market
BLISSGVS · Feb 2023: +6.3% vs market
YUKEN · Sep 2025: +12.8% vs market
ZOTA · Mar 2023: +13.3% vs market
GUJALKALI · Oct 2021: +14.4% vs market
MIDHANI · Sep 2025: +15.4% vs market
MINDACORP · May 2025: +16.8% vs market
BEML · Aug 2022: +22.0% vs market
ZENSARTECH · May 2024: +29.9% vs market
ELGIEQUIP · Dec 2021: +35.3% vs market
AUTOAXLES · Apr 2022: +51.7% vs market
APTECHT · Jan 2021: +52.4% vs market
APCOTEXIND · Aug 2021: +60.8% vs market
ASTRAMICRO · Nov 2022: +63.1% vs market
KPITTECH · Sep 2021: +92.4% vs market
CENTURYPLY · Oct 2020: +96.0% vs market
BECTORFOOD · Dec 2022: +109.9% vs market
HBLENGINE · Jun 2023: +120.2% vs market
FLUOROCHEM · Nov 2020: +142.7% vs market
Similar setups −2.3%All companies −2.3%← worse than the marketbetter than the market →

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 3 beyond the range shown, drawn at the edge

Similar setups' median
−2.3%
All companies' median
−2.3%
Beat the market
46% vs 47%

50 past situations · 50 companies · 39 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SUNDROP
Consumer Non-Durables		 Nov 2020 52x10% +21%−7% −10%
AUTOAXLES
Producer Manufacturing		 Apr 2022 107x6% +63%−6% +52%
TTKHLTCARE
Health Technology		 Apr 2020 26x15% −31%−34% −15%
HBLENGINE
Producer Manufacturing		 Jun 2023 44x14% +63%−2% +120%
JTEKTINDIA
Consumer Durables		 Jul 2024 67x— +39%−3% −35%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SHALBY
Health Services		 Aug 2021 50x7% +138%−7% −40%
GRAPHITE
Process Industries		 Sep 2023 48x7% +38%−5% −17%
JAMNAAUTO
Producer Manufacturing		 Feb 2022 56x16% +46%−17% 0%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, P/S and revenue growth. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to BOROSIL LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

FeatureWeightNon-financialFinancial
P/E1yesyes
P/S1yes—
P/B1—yes
ROCE1yes—
operating margin1yes—
ROE1—yes
debt/equity0.75yes—
interest cover0.5yes—
revenue growth0.75yesyes
12-month momentum1yesyes
drawdown from 12-month high0.75yesyes
size0.75yesyes
volatility0.5yesyes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

  • One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
  • Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
  • Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
  • Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
  • Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

MISHRA DHATU NIGAMMIDHANI
Non-Energy Minerals
67%similar
operating marginROCE
SMS PHARMACEUTICALSSMSPHARMA
Health Technology
66%similar
revenue growthP/E
CYIENT DLMCYIENTDLM
Electronic Technology
65%similar
debt/equityrevenue growth
ORIENTAL HOTELSORIENTHOT
Consumer Services
65%similar
debt/equityvolatility
MRS BECTORS FOOD SPECIALITIESBECTORFOOD
Consumer Non-Durables
64%similar
debt/equityrevenue growth
JUPITER WAGONSJWL
Producer Manufacturing
66%similar
P/Evolatility
RISHABH INSTRUMENTSRISHABH
Producer Manufacturing
65%similar
EPS growthdebt/equity
ALL TIME PLASTICSALLTIME
Producer Manufacturing
61%similar
debt/equityoperating margin

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Jul '23

  1. OctPriceVolume reached 93.0x its 50-day median on 2026-10-30; price +20.0% that day.
  2. SepResultsYear-on-year EPS growth turned negative.
  3. SepPeer rankMoved into the 2nd quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
  4. AugPriceVolume reached 258.7x its 50-day median on 2026-08-25; price +2.9% that day.
  5. JunPeer rankSlipped to the 3rd quartile of Producer Manufacturing on operating margin (from the 2nd quartile).
  6. MayPriceVolume reached 5.8x its 50-day median on 2026-05-19; price +7.1% that day.
  7. MarPriceFell 57% from the Nov 2024 peak to the Mar 2026 low.
  8. MarPriceVolume reached 88.8x its 50-day median on 2026-03-10; price +12.4% that day.
Show 22 earlier events
  1. NovPriceVolume reached 6.2x its 50-day median on 2025-11-07; price +0.8% that day.
  2. SepPriceVolume reached 24.1x its 50-day median on 2025-09-24; price -0.6% that day.
  3. JunPeer rankSlipped to the 2nd quartile of Producer Manufacturing on operating margin (from the top quartile).
  4. JunSharesShare count is up 9.1% over 12 months.
  5. MayPriceVolume reached 9.4x its 50-day median on 2025-05-20; price -0.5% that day.
  6. MarPeer rankMoved into the top quartile of Producer Manufacturing on operating margin (from the 2nd quartile).
  7. FebPriceVolume reached 13.9x its 50-day median on 2025-02-18; price -7.7% that day.
  8. DecPromoterPromoter holding fell 2.7 pts to 64.7% (largest drop since 2024-09).
  9. NovPriceVolume reached 15.4x its 50-day median on 2024-11-05; price +9.1% that day.
  10. SepPromoterPromoter holding fell 2.8 pts to 67.4%.
  11. SepInstitutionsFII + DII holding rose 3.5 pts over 2 quarters to 5.7%.
  12. AugPriceRegained the 2024-02 peak, 2 months after the low.
  13. AugValuationP/E crossed above the 90th percentile of its own history to date (72.3x).
  14. JulPriceVolume reached 13.6x its 50-day median on 2024-07-03; price +7.6% that day.
  15. JunResultsYear-on-year EPS growth turned positive.
  16. JunPriceFell 25% from the Feb 2024 peak to the Jun 2024 low.
  17. JunPeer rankMoved into the 3rd quartile of Producer Manufacturing on ROCE (from the bottom quartile).
  18. JunPriceVolume reached 9.5x its 50-day median on 2024-06-25; price +0.4% that day.
  19. FebPriceVolume reached 27.8x its 50-day median on 2024-02-13; price +12.1% that day.
  20. DecValuationP/E crossed above the 90th percentile of its own history to date (74.4x).
  21. DecPriceVolume reached 8.9x its 50-day median on 2023-12-04; price +5.4% that day.
  22. JulPriceRegained the 2021-12 peak, 13 months after the low.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1152.8x₹1225 cr7.9%11.0%0.2x
2026-1048.9x₹1225 cr8.0%11.0%0.2x
2026-0950.1x₹1225 cr8.0%11.0%0.2x
2026-0839.3x₹1200 cr8.5%11.0%0.2x
2026-0737.8x₹1200 cr8.5%11.0%0.2x
2026-0637.3x₹1200 cr8.5%11.0%0.2x
2026-0534.9x₹1186 cr9.3%12.0%0.1x
2026-0439.3x₹1186 cr9.3%12.0%0.1x
2026-0334.7x₹1186 cr9.3%12.0%0.1x
2026-0232.7x₹1185 cr10.6%12.0%0.1x
2026-0134.5x₹1185 cr10.6%12.0%0.1x
2025-1238.8x₹1185 cr10.6%12.0%0.1x
2025-1146.9x₹1119 cr10.0%12.0%0.1x
2025-1049.7x₹1119 cr10.0%12.0%0.1x
2025-0950.3x₹1119 cr10.0%12.0%0.1x
2025-0853.3x₹1103 cr9.0%12.0%0.1x
2025-0753.2x₹1103 cr9.0%12.0%0.1x
2025-0654.9x₹1103 cr9.0%12.0%0.1x
2025-0563.4x₹1062 cr11.6%14.0%0.3x
2025-0455.6x₹1062 cr11.6%14.0%0.3x
2025-0358.4x₹1062 cr11.6%14.0%0.3x
2025-0251.5x₹1028 cr11.9%14.0%0.3x
2025-0164.6x₹1028 cr11.9%14.0%0.3x
2024-1267.4x₹1028 cr11.9%14.0%0.3x
2024-1175.3x₹985 cr12.1%14.0%0.3x
2024-1072.9x₹985 cr12.1%14.0%0.3x
2024-0966.1x₹985 cr12.1%14.0%0.3x
2024-0872.3x₹934 cr11.4%14.0%0.3x
2024-0765.7x₹934 cr11.4%14.0%0.3x
2024-0656.9x₹934 cr11.4%14.0%0.3x
2024-0568.4x₹728 cr10.2%6.0%0.2x
2024-0478.2x₹728 cr10.2%6.0%0.2x
2024-0378.9x₹728 cr10.2%6.0%0.2x
2024-0283.9x₹728 cr10.2%6.0%0.2x
2024-0177.7x₹728 cr10.2%6.0%0.2x
2023-1274.4x₹728 cr10.2%6.0%0.2x
2023-1149.9x₹728 cr10.2%6.0%0.2x
2023-1045.6x₹728 cr10.2%6.0%0.2x
2023-0946.6x₹728 cr10.2%6.0%0.2x
2023-0851.5x₹728 cr10.2%6.0%0.2x
2023-0754.8x₹728 cr10.2%6.0%0.2x
2023-0649.9x₹728 cr10.2%6.0%0.2x
2023-0530.9x₹828 cr11.1%18.0%0.0x
2023-0429.6x₹828 cr11.1%18.0%0.0x
2023-0323.9x₹828 cr11.1%18.0%0.0x
2023-0223.2x₹828 cr11.1%18.0%0.0x
2023-0126.0x₹828 cr11.1%18.0%0.0x
2022-1226.6x₹828 cr11.1%18.0%0.0x
2022-1130.6x₹828 cr11.1%18.0%0.0x
2022-1030.5x₹828 cr11.1%18.0%0.0x
2022-0928.0x₹828 cr11.1%18.0%0.0x
2022-0825.2x₹828 cr11.1%18.0%0.0x
2022-0725.1x₹828 cr11.1%18.0%0.0x
2022-0619.9x₹828 cr11.1%18.0%0.0x
2022-0543.4x₹577 cr6.1%8.0%0.0x
2022-0449.3x₹577 cr6.1%8.0%0.0x
2022-0348.0x₹577 cr6.1%8.0%0.0x
2022-0249.7x₹577 cr6.1%8.0%0.0x
2022-0155.2x₹577 cr6.1%8.0%0.0x
2021-1261.3x₹577 cr6.1%8.0%0.0x

Older months are in the live observatory.

Methodology and data notes

Methodology

Methodology and data notes

All figures come from public exchange prices and screener.in financial statements. Quarterly and annual results are shown from 60 days after the period end, so a month never uses a result before it would plausibly have been published. Statements are the latest versions, which may include later restatements.

Sector medians, percentiles and indices use today's listed companies in the sector (survivorship bias). Prices are adjusted for splits and bonus issues; around a corporate action the fundamentals may lag the price by up to a month, and affected sections are hidden.

The return decomposition uses price = P/E × net profit ÷ share count. The reverse DCF uses a fixed 12% cost of equity, a 10-year horizon and a 15x terminal P/E, and is an illustration only. Events, flags and twins follow fixed rules and thresholds described next to each section.

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